26North Partners LP has announced a definitive agreement to acquire Intermedia Intelligent Communications, a global provider of AI-powered cloud communications, collaboration, and customer engagement solutions, from funds managed by Madison Dearborn Partners.
Intermedia supports more than 7,500 partners and serves over 150,000 business customers through its cloud-native platform. The company has benefited from the ongoing shift away from legacy, on premises phone systems toward cloud-based communications infrastructure.
A core driver of Intermedia’s growth has been its partner-first model, including its Customer Ownership Reseller approach, which enables managed service providers, telecom operators, and other partners to brand and sell its solutions while retaining customer relationships. This model has helped build a strong base of recurring revenue supported by long-term customer engagement.
The company has also embedded artificial intelligence across its platform, which spans unified communications, contact center solutions, data intelligence, Microsoft Teams integrations, email and productivity tools, and security offerings. Intermedia has expanded into multiple verticals including healthcare, legal, education, financial services, and automotive.
Under the leadership of CEO Michael Gold, Intermedia has scaled significantly, generating more than $430 million in annual recurring revenue and achieving approximately 20 percent year over year growth in its communications business, alongside improving profitability.
Following the acquisition, 26North plans to support Intermedia’s continued expansion through both organic growth initiatives and strategic investments. Its internal Alpha Creation Team is expected to work closely with Intermedia’s management to enhance product development, distribution, and operational capabilities.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions.
KEY QUOTES
“We are thrilled to partner with Intermedia and pleased to have current management remain as investors in the business. The company has built a leadership position in cloud communications, with innovative products, high-quality service and support, a strong team and a powerful channel partner network. This transaction is another example of 26North’s private equity strategy: investing in growing, market-leading businesses where our platform can contribute meaningfully to a company’s future growth and profitability.”
Mark Weinberg, Senior Partner And Head Of Private Equity, 26North
“Intermedia has spent a decade building the right model to capture the opportunity in today’s cloud communications market by focusing on channel partners and the small and medium-sized businesses they serve. We intend to support Michael and his team as we take the business further through organic and inorganic investment.”
Tyler Sipprelle, Private Equity Partner, 26North
“We are incredibly proud of what the Intermedia team has accomplished during our partnership. Over the course of our ownership, the company has built a highly differentiated platform, scaled a robust partner ecosystem, and consistently delivered strong growth in a competitive market. We believe Intermedia is exceptionally well-positioned to build on this momentum with 26North.”
Brendan Barrett, Managing Director, Madison Dearborn Partners
“This partnership with 26North marks an important step forward for Intermedia. We have built the business around a model that aligns closely with our partners and customers, and that alignment is becoming even more relevant as AI opens new opportunities for how organizations communicate and operate. We are grateful to Madison Dearborn for its partnership, and to our partners, customers and team who have been instrumental in building Intermedia into what it is today. We look forward to working with 26North to accelerate this progress in the years ahead.”
Michael Gold, CEO, Intermedia Intelligent Communications
